Gold & Silver Rally On Federal Reserve Statements

GOLD

This morning the November Consumer Price Index (CPI) was released showing a 15% increase from October, primarily based on gasoline prices. This caused concerns over renewed inflation, so both Gold and Silver rallied on fresh safe haven buying. The Federal Reserve stated this morning there is no increase or decrease in interest rates, as expected. At the upcoming press confirm Fed Chairman Powell will give indications about 2020 Fed policy. At 11am PT today, Gold is up $4 per ounce trading at $1,469 on normal volume.

SILVER

Silver rallied with Gold, reaching a high of $16.81 before seeing light selling. Physical demand for popular Silver investment products is picking up in Asia and Europe. At 11am PT today, Silver is up $0.11 per ounce, trading at $16.78 on average volume.